Batshuayi joined Chelsea in 2016 to significant fanfare after impressing with Marseille, but he has had little impact at the club.
The 25-year-old made 28 appearances in his first season at Stamford Bridge, scoring nine goals, including the winner at West Brom that secured the Premier League title.
However just seven of those appearances were starts, with Batshuayi struggling to dislodge Diego Costa from the central striking role under Antonio Conte.
After again struggling for regular starts during the first half of last season Batshuayi was shipped out to Borussia Dortmund on a temporary deal in January and caught the eye, scoring seven times in 10 Bundesliga games.
That form saw him attract significant interest in pre-season, with Chelsea again keen to see him leave, and Valencia struck a deal which included a purchase option.
When asked about Batshuayi’s future Marcelino did little to cool such speculation.
"At the right time will analyse the final situation and we will decide [what to do with Batshuayi]," Marcelino told reporters.
"There is a transfer [clause], I do not know what the situation is contractually, but for all parties who want to leave, we will look for what is best for Valencia and thus the appropriate decisions will be made."
Valencia’s form has begun to improve in recent weeks after a poor start to the season that saw them win just one of their first 13 matches in all competitions.
Four wins out of their last seven games have lifted Los Che up to 15th in La Liga and progress in Copa del Rey.
However, the club have been eliminated from the Champions League having taken just five points from five matches.